As improvements in integrated circuit processing methodologies continue to reduce the physical size of electronic circuit components, the assembly (mounting and interconnection) of such components on a support/interconnect structure (e.g. printed circuit board) mandates the use of high precision handling and placement mechanisms. In order to attain industrially practical production requirements such systems are usually custom designed for a particular type or class of components, and incorporate placement mechanisms the movement capability of which is constrained (so as to achieve high speed transport in a given direction). As a consequence, such systems have only limited application, thereby necessitating the use of a plurality of specifically dedicated systems for assembly of different types and sizes of components which increases manufacturing complexity and cost.